Intercompany loan

Intercompany loan

Loan made by one unit of a corporation to another unit of the same corporation.

Intercompany Loan

A loan in which both the lender and the borrower are divisions of the same corporation. Such a loan may have tax consequences, depending on the jurisdiction.
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Pending that final use, MPLX intends to use the net proceeds from this offering to repay borrowings under its revolving credit facility and its amended and restated intercompany loan agreement with Marathon Petroleum Corporation and/or for general partnership purposes, which may include, from time to time, acquisitions, capital expenditures and the payment of distributions.
Net proceeds from this offering may be used by the company to repay, redeem or otherwise retire the Andeavor Logistics LP 5.500% senior notes due 2019, to repay borrowings under its revolving credit facility and its amended and restated intercompany loan agreement with Marathon Petroleum Corporation, and for general partnership purposes, which may include acquisitions, capital expenditures and the payment of distributions.
Pending that final use, the company aims to use the net proceeds from this offering to repay borrowings under its revolving credit facility and its amended and restated intercompany loan contract with Marathon Petroleum Corporation and/or for general partnership purposes, which is likely to include, from time to time, acquisitions, capital expenditures and the payment of distributions.
Further the Group has approved intercompany loan funding of R1 billion for Lonmin subsidiaries should they require funding prior to these accessions being concluded.
The petition also includes an order pursuant to Section 301 of the BCA requiring Novelion to hold a special meeting of its shareholders to vote on whether Novelion should "dispose of" the intercompany loan between Novelion and Aegerion Pharmaceuticals pursuant to the terms of a Restructuring Support Agreement entered into by, inter alia, Novelion and Aegerion on May 20, 2019 in connection with Aegerion's Chapter 11 plan of reorganization in the United States Bankruptcy Court, Southern District of New York Case No.
As at 31 March 2018, Viking had audited net assets of GBP 794,474, including intercompany loan balances of GBP457,171 due from Braveheart, Strathtay and REGIC, investments in RHL and REGIC of GBP 45,000, an accrual for the Performance Fee of GBP 174,939 and cash of GBP 42,541.
Animalcare has received an initial cash consideration of GBP0.33m (EUR0.37m) and expects to receive GBP1.72m (EUR1.90m) in the near future in respect of intercompany loan balances due from the wholesale division to other Animalcare group companies.
The proceeds are then channelled as an intercompany loan or as an equity injection into another group company.
"We stressed that things will not get any better for GM Korea unless GM solves the problem of the $2.7 billion intercompany loan since GM Korea is paying 200 billion won annually as interest," Rep.
The group was able to meet its dayto-day working capital responsibilities through an intercompany loan facility with parent Langtree Real Estate Holdings by the end of the financial year.
"The implementation of this movement of funds is conducted through an intercompany loan," said Joe Ng, Asia Pacific head of Renminbi payments product management for Global Transaction Banking at Deutsche Bank.
Additional benefits can be gained by centralizing all intercompany loan activities in the ITC, concentrating both the funding and currency risk of these loans.